Experiential Senior Living ‘Revolutionizing’ the Industry

If you’ve attended any of the recent senior living conferences, you’ve probably heard whispers of an evolving industry. With inflation and other economic challenges looming, operators and developers have had to rethink best practices. Not only are Baby Boomers looking for communities that cater to their active side, but experiential living is taking many markets by storm. 
At the recent Senior Housing News BUILD conference in Chicago, industry leaders made it clear that the next generation of seniors are all about having experiences and continuing to enjoy life. With this in mind, operators in Florida and elsewhere are curating unique experiences for residents. 

Developers Adapt As Communities Evolve

For developers, this introduces both new challenges and opportunities, such as greener practices that will lower costs, increase energy efficiency, and benefit the planet. Over the summer, Sherman & Roylance’s George Bingham talked about the use of structural insulated panels (SIPs) in senior housing construction and how this is revolutionizing the industry.  
It’s important to note how developers have adapted to market trends, such as fluctuating lumber prices, even as the industry continues on this rapid pace of transformation and growth. Senior housing demand is up as many Baby Boomers are saying goodbye to home maintenance in place of a community-based, active lifestyle with more to offer, such as personalized experiences. 

Change, or Get Left Behind 

There is no one-size-fits-all approach to senior living, or at least there shouldn’t be. With news of ill-intentioned operators taking advantage and turning it into a for-profit industry, it’s important to recognize and highlight those who are making a difference for the right reasons. 
Like it or not, the industry is changing and those who don’t recognize this and jump on board will get left behind. The team at Sherman & Roylance is excited about the future of the industry and looks forward to helping investors, operators, and owners adapt and succeed. To learn more about our portfolio or if you are interested in selling a property, don’t hesitate to contact us.